News That Matters

Business

Travel firms 'fail' on Brexit holiday rights

Travel firms 'fail' on Brexit holiday rights

Business
British holidaymakers booking trips within the EU after Brexit are being urged to check the small print amid claims travel firms are failing to clarify their rights.The consumer group Which? said it believed holiday companies should be providing updated terms and conditions for customer cancellations and refunds in the event the UK leaves the EU without an aviation deal on 29 March next year.There have been warnings, most prominently from Ryanair's chief executive Michael O'Leary, that flights could be grounded in that eventuality because UK operators would no longer come under the single market for aviation.Which? said it was particularly important for customers booking a non-package holiday in Europe to ensure they would not be left in limbo as they would not be covered by current repatr...
Kongsberg signs long-term vehicle technology deal in Qatar

Kongsberg signs long-term vehicle technology deal in Qatar

Business
March 13 (UPI) -- International technology company Kongsberg signed a long-term technology development program deal with Barzan Holdings for work in Qatar.Kongsberg CEO Geir Håøy and Hamad Al Hajri, Program Director Barzan Holdings, signed the agreement in Doha, Qatar on Tuesday. The contract is potentially valued at more than $ 194.1 billion over an eight year period.The contract will seek to develop new technologies for "communication, digitalization and tower solutions for military vehicles."The technology development program is one of the largest undertakings in Kongsberg's history, the company said."We see considerable opportunities and potential for Norwegian industry and technology development with this establishment," Geir Håøy, President and CEO of Kongsberg, said in a press relea
Trump blocks Broadcom's bid for Qualcomm on security grounds

Trump blocks Broadcom's bid for Qualcomm on security grounds

Business
US President Donald Trump has blocked a planned takeover of chipmaker Qualcomm by Singapore-based rival Broadcom on grounds of national security.His order cited "credible evidence" that the proposed $ 140bn (£100bn) deal "threatens to impair the national security of the US". There were concerns the takeover could have led to China pulling ahead in the development of 5G wireless technology. The deal would have been the biggest technology sector takeover on record.A takeover of Qualcomm by Broadcom would have created the world's third-largest maker of microchips, behind Intel and Samsung. The chipmaking sector is in a race to develop chips for the latest 5G wireless technology and Qualcomm is considered to be a leader in this field, followed by Broadcom and China's telecoms giant Huawei. Ana
Lockheed Martin delivers first of 3 radars to Latvian military

Lockheed Martin delivers first of 3 radars to Latvian military

Business
March 12 (UPI) -- Lockheed Martin has delivered the first of three radars to Latvia, the company said Monday, calling it "a major step forward in strengthening [the country's] national defense."The TPS-77 Multi-Role Radar, purchased for an undisclosed cost in a 2015 contract, recently completed an on-site acceptance test and will increase the Latvian air force's capacity for low-level flight surveillance and identification, Lockheed Martin said. The company said it has worked with the NATO country on its radar systems for the last 16 years.The radar, which can be easily transported and mounted on a truck, can toggle between multiple missions at once by automatically adjusting during each 360-degree scan.Lockheed Martin added that the TPS-77 MRR uses less power than its predecessors, increa...
Melrose ups GKN bid to £8.1bn in 'final offer'

Melrose ups GKN bid to £8.1bn in 'final offer'

Business
Melrose has raised its hostile bid for GKN, telling shareholders in the FTSE 100 engineering firm it will be its "final offer".In its third attempt to land the company, the turnaround specialist said its increased bid - at 467p per share - would value GKN at £8.1bn and give investors a 60% stake in the expanded Melrose.Its previous offer valued GKN at £7.4bn and included 57% of Melrose equity.GKN shares were 2.5% higher at 446p in early trading on the FTSE 100 - changing hands below the raised takeover price.That reflects considerable uncertainty on whether the deal will happen.Image:GKN has agreed a deal to merge its Driveline business with US rival Dana. Pic: GKNMelrose has gone directly to shareholders with its offer because, it said, the GKN board continued to refuse any "constructive